Fed up with a lease agreement a mile long? It may become a thing of the past.
Dexus, one of Australia's biggest commercial landlords, has cut the length of its standard office and industrial lease from 75 pages to just 25.
The new, shorter modified lease will be launched this week. The aim is to make currently complex - and sometimes confrontational - leasing negotiations simpler and easier, according to executive general manager for office and industrial Kevin George.
"It's more common sense than anything else," he said. "Previously both sides have sought to address every possible eventuality for every possible circumstance. We have gone back to the core principle of the relationship between the landlord and the tenant."
"It allows it to be more of a partnership than a confrontational contract."
Dexus said the modified version forgoes many of the traditional provisions that landlords typically rely upon across the market. Most of the core headings and sections from Dexus's existing standard lease are still there but they have been simplified.
Lease agreements gradually become more complicated with the rise of tenant reps and advisers, even though it was with "good intent", Mr George said.